findexable is launching the Global Fintech Index – the world’s first real-time fintech ranking and categorisation tool to benchmark fintech ecosystems and fintech companies globally.
The inaugural 2020 rankings report compared over 230 cities across 65 countries, using a proprietary algorithm working in real-time to compare, profile, and rank according to the depth of fintech activity in their location. The 2021 rankings report will be announced in December.
A global network for a global index
findexable is using an open source directory to identify fintech businesses and rank ecosystems around the world – working with a growing network of 45 ecosystem partners including Crunchbase, fintech associations, investment promotion agencies, and industry bodies that are helping to improve the visibility of fintech companies around the world and provide a living record of financial innovation.
Designed to improve awareness of fintech development, promote collaboration, and enable benchmarking between companies, countries, and regions, the Global Fintech Index throws some surprising results:
- Nearly half the world’s biggest global financial centres drop out of the top 20 fintech hubs globally
- Smaller fintech-focused centres (for example Vilnius and Singapore) can punch well above their weight to beat mainstream or regional rivals
- Startup nations ≠ Fintech hubs. A city’s status as a startup hub does not automatically guarantee success as a fintech hub. Some cities with high concentrations of startups dropped places on the fintech rankings compared to their position in equivalent startup rankings.
Global Fintech Index (top 20 fintech hubs)
The challenge of building a benchmark
The Global Fintech Index is being launched at a time when financial market volatility is threatening livelihoods, economic growth, and poverty reduction. In some regions of the world, fintech investment reached an all-time high in 2019 – a picture that will be impacted sharply by the onset of Covid-19 in 2020.
The Global Fintech Index can be a valuable indicator of a rapidly changing world. There’s never been a more important time to support fintech companies that are using innovation to improve access to finance among minorities everywhere, and to make it easier for small businesses to trade and reduce costs in digital and cross-border commerce.
Visit The Global Fintech Index to discover all 238 active fintech ecosystems.
